STARTUP Startup Funding 

Indian startups raised $548 million from Zepto to Open [May 2-7,2022]

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  • In the first week of May, the Indian startup ecosystem raised $548 million across 22 acquisitions.
  • UpGrad acquired the International School of Engineering this week, making it the fifth acquisition of the week (INSOFE)
  • Deepinder Goyal of Zomato has declared that he will donate $90 million to the Zomato Future Foundation after vesting his ESOPs.

Following a period of low funding in April, the month of May began with a minor increase in investment. Between May 2 and May 6, the startup ecosystem raised about $548 million in 22 transactions. This is a 76 percent increase over the previous week’s funding when entrepreneurs from various industries raised $309 million across 29 transactions.

 

After a barren month in April in terms of a unicorn(s), the country’s 100th unicorn was created in the first week when neo banking firm Open secured $50 million at a billion-dollar valuation.

 

Tiger Global was the busiest investor this week, investing in three projects, followed by Sequoia Capital India, IIFL, and Multiply Ventures, all of which invested in two.

 

Accel Partners is the recipient of four checks. Two agreements were completed this week with Tiger Global, Sequoia Capital, Matrix Partners, and 3one4 Capital.
Deals of the Week in Indian Startup Funding:

Series Funding:
Indian Series Startup Funding Of The Week [May 2 - May 7]

 

Seed Funding:

Indian Seed Startup Funding Of The Week [May 2 - May 7] (2)
This Week’s Startup Funding

  • The parent company of Gurugram-based Startup Buddy has announced the formation of a “Real-Time Accelerator Fund” with a capital of INR 100 crore and an additional INR 100 crore greenshoe option.
  • Tykhe Block Ventures, a local venture capital firm, has announced the formation of a $30 million crypto fund.
  • Quona Capital is expected to close its third fund at a valuation of $325 million to $350 million, much more than the $250 million objectives.
  • Gemba Capital, a Bengaluru-based early-stage venture capital (VC) firm, set the first closing of its micro VC fund at $10 million, but given the positive response, the business anticipates it to close at $13 million.
  • JPIN, a London-based venture capital firm, has formed a strategic fund focused on India.



Other Innovations in India’s Startup Ecosystem

  • Inc42 exclusively reported that newly created unicorn Oxyzo is creating an ESOP pool for its employees worth close to INR 380 crore.
  • Deepinder Goyal, the CEO of online food aggregator Zomato, is giving $90 million in ESOP revenues to the Zomato Future Foundation (ZFF)